Optics Get Hit On U.S. Ban

Optics Get Hit On U.S. Ban

InTheMoneyStocks.com  | Apr 16, 2018 12:42PM ET

Monday saw the optical device makers plunge after the U.S. Commerce Department banned domestic companies from selling components to Chinese telecom gear maker ZTE (OTC:ZTCOY). Leading optical device makers like Finisar (NASDAQ:FNSR), Lumentum (NASDAQ:LITE), Oclaro (NASDAQ:OCLR) and Acadia Communications (NASDAQ:ACIA) all came underselling pressure early Monday.

Support

Finisar has been down-trending since March 2017, when it traded as high as $35. Today, FNSR is trading lower by 0.76 to $15.52 a share. Traders should note that the stock could see some very solid support around $13.75. That's where it broke out in February 2016. Very often, past breakout levels will be defended when initially tested. Finisar is expected to report earnings on May 1, 2018.

Finisar Corporation

InTheMoneyStocks.com

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